secwatch.observer — SEC 8-K summary
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Issuer:     LIGHTPATH TECHNOLOGIES INC (LPTH)
CIK:        0000889971
Form:       8-K
Filed at:   2024-08-12T23:59:59+00:00
Accession:  0001654954-24-010336
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LightPath secures $3M bridge note at 12.5% from Lytton-Kambara Foundation
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- $3M bridge loan from Lytton-Kambara Foundation at 12.5% interest, maturing Aug 6, 2025.
- Net proceeds of $2.7M after 7% OID ($210k), placement fees, and expenses.
- Prepayment allowed at 105% of principal plus accrued interest; Change-of-Control triggers repayment at 105%.
- Loan proceeds for general business operations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889971/000165495424010336/0001654954-24-010336-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889971/000165495424010336/lpth_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-010336

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer